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Priva reports strong 2nd Quarter 2005 sales
Published Aug 23 2005
4 min read

Priva reports strong 2nd Quarter 2005 sales

MONTREAL, QC, Aug. 23 /CNW Telbec/ - (TSXV: "PIV"), Mr. David Horowitz,
President and C.E.O. of Priva Inc. is pleased to announce the Corporation's
2nd Quarter results for the period ending June 30, 2005.
Revenues for Q2 2005 were $2,042,349, which represented a 15% increase
over the $1,775,697 recorded in Q2 2004. During the Second Quarter of 2005,
Sales and Administrative Expenses increased by 37.6% to $426,658 compared to
$310,025 during Q2 2004. This increase in expenditures was a result of
incurring expenses associated with marketing, sales and increased warehousing
space that were required to be made to meet Priva anticipated growth and
increase in sales. Priva has invested in the Home Furnishings Division, with
the addition of Derek Paterson, as Vice President of the Division.
Specifically the marketing and sales costs associated with the launch into
furniture and mattress stores have been realized in this second Quarter for
future results in upcoming Quarters. As a result, Net Earnings Before Tax in
Q2 2005 were $18,332, compared with $72,101 in Q2 2004. Net Earnings Per Share
Fully Diluted for Q2 2005 was $0.001 compared with $0.005 per share in
Q2 2004.
"Notwithstanding the strong Canadian dollar, which is putting downward
pressure on the growth of other Canadian distribution companies that export
their products, Priva has been able to continue to grow. A stronger Balance
Sheet has positioned Priva to pursue its growth plans and will continue to
work towards its goal of increasing its penetration into the USA marketplace",
says David Horowitz, President and CEO, Priva Inc. The pending acquisition by
Priva of $6 million USD in annualized customer accounts from Philmont
Manufacturing is one example of how Priva will achieve this goal.

Selected financial information is as follows:
<<
Quarter Ended June 30                           2005                2004

Total Revenue                            $ 2,042,349         $ 1,775,697
Income Before Taxes                      $    18,332         $    72,101

Six Months Ended June 30

Total Sales                              $ 4,310,167         $ 3,849,335
Total Assets                             $ 3,912,115         $ 2,970,024
Total Liabilities                        $ 3,201,370         $ 2,405,518
Long Term Debt                           $   600,000         $ 1,100,000
Shares Outstanding                        17,242,858          13,542,858
Net Income Before Taxes                  $   161,770         $   178,917
Income Taxes                             $    60,524         $         0
Net Income After Taxes                   $   101,246         $   178,917
Net Income Per Share-Diluted             $     0.007         $     0.005
>>

Montreal based Priva Inc. is a leading manufacturer and distributor of an
assortment of absorbent and waterproof textile products sold to retailers in
Canada, the US, the UK Australia and New Zealand, with export sales
representing over 60% of sales. Priva's products for adults are sold under the
Priva and Americare brands; children's products are marketed under the Snoozy
and Tidy Turtle labels and Priva's anti-allergen products are sold under the
Quorum and Zip & Block brands.

Certain statements in this press release may be forward looking, and
these statements involve known and unknown risks that may cause the Company's
actual results, performance and achievements to be materially different from
any performance or achievements expressed or implied by such forward looking
comments. The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of release.